GoCompare launches ‘Machine Learning for Fintech’ – a community-driven machine learning initiative for fintechs

GoCompare has today (31 January 2018) announced the launch of Machine Learning for Fintech (#ML4Fintech), a new fintech community development project.

The project will allow fintech organisations to pass anonymised transactional data to GoCompare’s APIs, which will carry out in-depth analysis and produce a summary of those transactions and provide predictions on future spending, for free.

Announced by Jackson Hull, GoCompare’s Chief Operating and Technology Officer, at the AI Congress in London, Machine Learning for Fintech demonstrates the Newport-based company’s significant commitment to supporting other innovative fintech organisations and its vision of making South Wales a UK hotspot for machine learning and artificial intelligence.

For the first time, GoCompare will open up access to APIs to other financial services companies. The APIs available include transaction categorisation, merchant identification and insight on predicted spending.

Machine Learning for Fintech will give fintech organisations access to world-class skills and data science practices, without them needing to invest in their own teams. This in turn will help them to better understand their own customers.

GoCompare will also use this anonymised data to train and build robust machine learning models for the fintech community, ultimately to benefit consumers.

Investment in AI, machine learning and data science is fundamental to GoCompare’s vision for the future.

Applications for access to the beta version of Machine Learning for Fintech are now open. To participate in the initiative, organisations are invited to request a developer token from: https://www.communityapis.com. 

Jackson Hull Chief Operating and Technology Officer at GoCompare said: “Today marks a huge step for GoCompare as we continue to develop our position as not just a consumer champion, but also as a UK fintech leader.

“With the launch of Machine Learning for Fintech, our goal is to join forces with other anchors of the fintech community to share data best practices, securely combine anonymised data sources and build data-driven experiences together to facilitate innovation in our industry.

“As a reputable fintech brand in the UK, supporting innovation in the industry isn’t just an opportunity for us, but is also our responsibility. Today’s launch supports our vision of making South Wales a data science hotspot.

“AI and machine learning are the future of financial services and will raise the benchmark of customer expectation. GoCompare is a company with a large stake in that future, one that helps people everywhere save time and money through cutting edge technology and data-driven innovation, and one that provides unparalleled services.”

 Jackson Hull is the Chief Operating and Technology Officer at GoCompare and is speaking at AI Congress on 31^st January at the O2 in London.

For further information on Machine Learning for Fintech or for interview bids with Jackson Hull, please contact Martyn John on 01633 654 725 or martyn.john@gocompare.com

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For further information please contact:

Anders Nilsson or Martyn John at GoCompare on 01633 654 054 / 01633 654 725

Keep up-to-date with GoCompare on Twitter: @GoCompare

Notes to editors

About GoCompare

GoCompare is a comparison website that enables people to compare the costs and features of a wide variety of insurance policies, financial products and energy tariffs.

GoCompare does not charge people to use its services, and it does not accept advertising or sponsored listings, so all product comparisons are unbiased. GoCompare makes its money through fees paid by the providers of products that appear on its various comparison services when a customer buys through the site.

GoCompare does not sell its customers’ data.

When it launched in 2006, it was the first comparison site to focus on displaying policy details rather than just listing prices, with the aim of helping people to make better-informed decisions when buying their insurance. GoCompare has remained dedicated to helping people choose the most appropriate products rather than just the cheapest, and has teamed up with Defaqto, the independent financial researcher, to integrate additional policy information into a number of its insurance comparison services. This allows people to compare up to an extra 30 features of cover.

GoCompare is the only comparison website to be invited to join the British Insurance Brokers’ Association (BIBA) and is authorised and regulated by the Financial Conduct Authority (FCA).

For more information visit www.gocompare.com and www.gocomparegroup.com